Ethereum holds over half the tokenized real-world asset market as institutional giants like BlackRock deploy billions on its network. Tokenized real-world assets are one of the fastest-growing corners of crypto, and as of early June 2026, Ethereum held approximately $16.6 billion in distributed tokenized RWA value, representing 52.85% of the entire on-chain RWA market, according to data from rwa.xyz. The world’s largest asset manager chose Ethereum as the primary deployment chain for its tokenized money market fund. The competitive pressure and what it meansThe August data showing a share compression from roughly 52% to 45-46% reflects observable movement of assets to cheaper chains as the RWA market matures. Every tokenized treasury, every on-chain money market fund, every fractional real estate transaction processed on Ethereum generates gas fees paid in ETH.